As a result of the new legislation governing tenancy deposits, landlords are quite rightly not willing to endure all the extra unnecessary paperwork and red tape now required. There is a need for rents to be protected without the need for taking a deposit.

The rent guarantee service is developed for members of the Guild of Residential Landlords. It allows a member to check a tenant using the extended tenant vetting service and subject to acceptance, the insurance policy will guarantee to pay up to 5 1/2 months rent for up to 12 months should the tenant default. The landlord is NOT required to take a deposit for cover to be effective.

Should a landlord decide to take a deposit, the deposit amount will be added to any excess.

There are two options available:-